Lido files Blockworks B2 transparency report with seven gaps still open
In brief
- Lido DAO filed version 2.2 of its Blockworks B2 filing on October 15, 2026.
- The filing carries a partial status with seven gaps still open, Crypto Briefing reported.
- Open gaps cover project description, governance, token supply and allocations.
- Lido's voluntary H1 2026 income statement shows $15.94 million in net revenue.
- Foundation expenses of $14.33 million leave a surplus of about $1.61 million.
What's still open
According to research findings cited by Crypto Briefing, the seven open gaps relate to the project description, governance, token supply and allocations. Those categories line up with what the B2 filing is meant to describe in the first place: how the protocol works, who controls it and where the tokens went.
The filing carries a partial status, with seven gaps still open.
Blockworks publicly highlighted Lido's submission on October 22, a week after the filing went in. Blockworks framed Lido as a leader in transparency standards among mature protocols. That's the outlet's characterization (not ours), and the filing itself still reads as partial.
The H1 2026 numbers
So what did the attached income statement show? Lido's statement for the first half of 2026 lists $15.94 million in net revenue, set against $14.33 million in expenses for the foundations that support the protocol.
By Crypto Briefing's math, that leaves the protocol ahead by about $1.61 million for the period.
How Lido and LDO are structured
Lido lets users stake ETH and receive stETH, which represents the staked ETH plus the rewards it earns. stETH tracks those rewards through daily rebasing, so holder balances adjust each day. Protocol decisions run through Lido DAO, where token holders vote on proposals using on-chain frameworks including Aragon and Snapshot. Three foundations based in the Cayman Islands sit behind the DAO.
The governance token, LDO, launched on January 5, 2021, with a total supply of 1 billion tokens at its token generation event. The DAO treasury received 36.32% of that initial supply, while developers and initial backers also received significant portions (all allocations finished vesting by December 2022). As of October 21, 2026, roughly 121.5 million LDO remained in the treasury, Crypto Briefing reported.
The research findings Crypto Briefing cited suggest the filing could strengthen investor confidence and potentially attract institutional participants. That's their read, not a measured outcome.
With seven gaps still open, the filing isn't finished.
Frequently asked questions
What is Lido's Blockworks B2 Token Transparency Filing?
It's a structured disclosure Lido DAO filed with Blockworks covering how the protocol works, who controls it and where its tokens went. Version 2.2 was submitted on October 15, 2026, according to Crypto Briefing.
What gaps are still open in Lido's B2 filing?
The filing carries a partial status with seven open gaps. According to research findings cited by Crypto Briefing, those gaps relate to the project description, governance, token supply and allocations.
What did Lido's H1 2026 income statement show?
Lido voluntarily attached an income statement for the first half of 2026 showing $15.94 million in net revenue and $14.33 million in expenses for the foundations that support the protocol. By Crypto Briefing's calculation, that leaves the protocol ahead by about $1.61 million for the period.
